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Fall in Brits 'living on overdrafts'
There has been a marginal improvement in the number of Brits that are permanently overdrawn, according to new research.
Figures from Moneysupermarket.com have revealed that ten per cent of people are constantly stuck in their overdrafts, which is a drop of seven per cent from 12 months ago.
It also found that 38 per cent of bank customers used such facilities during 2009 and claimed current account holders could save up to £240 by switching to another product.
Kevin Mountford, head of banking at Moneysupermarket.com, said: "Consumers should always consider the ways in which they use their current account and make sure they have the right product to match.
"For example if you dip into your overdraft on a regular basis, your main concern should be minimising the costs of going overdrawn."
The Better Banking Campaign recently published research which suggested that a majority of Brits believe everyone has a right to access financial services like bank accounts and personal loans.